What is Tax Planning?

mortgage-advice-iconSuccessful financial planning involves implementing strategies that help you reach your financial goals, be they short-term or long-term. Over the long haul, taxes are quite often one of your single biggest ongoing expenses, and so prudent tax planning is a necessary and crucial step in ensuring that you're on track to meeting your financial planning goals and objectives. No tax situation is exactly the same, and so your comprehensive tax plan should be based on your personal priorities and goals.

Tax Preparation

At Wealth Wisher, we offer a wide range of innovative tax preparation services designed to meet your specific tax situation. From busy employees and executives to seasoned entrepreneurs, everyone can benefit from our team of experienced tax specialists. When it comes to assessing your personal tax situation, we will help you optimise your tax returns with any tax credits and deductions available to you. You work hard for your money and you deserve to keep as much of it as possible. Work with us to optimise your tax return and we'll show you how.

Here are our services:

Individuals

In India, individuals have differing tax rates, implications and exemptions. Just like, for salaried individuals the tax saving strategies are less compared to self-employed individuals. But with proper planning and a little discipline, there are some interesting options available. By adding structure to the plans of both salaried individuals and those with businesses, these taxpayers can avail tax deductions and help increase their income benefits.

Business Owners and HNIs

For business owners, business succession is a high priority task. Protection of their income, personal assets from creditors and passing on the family heirloom are important considerations for them. Succession Planning plays an important role for key business owners as are concerns like, what needs to be done to ensure continuity of business, continuity of management and protecting human capital. Similarly, for HNIs passing on wealth to the next generation requires careful planning.

Differently-abled children

For protection of assets and income provided for streamlined cash flows to differently abled children, there are separate options like creation of trust, letter of Intent, preparation of cash flow planning and financial analysis, etc. They can also claim income tax deduction benefits from the government.

NRIs

For NRIs, place of residence and source of income, play a vital role in tax planning and Cross Border Strategies become an important tool to understand the tax status, residency and source of income for taxation. DTAA must be studied between both countries in order to reduce double taxation.